
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
The magisterial probe into the death of three UPSC aspirants due to flooding in the basement of R
Samsung: The company is soon bringing a flagship phone with 200MP camera sensor, Galaxy S23 Ultra
Samsung Galaxy S23 Ultra Camera: Tech company Samsung is preparing to launch its new smartphone G
The movement against the Sheikh Hasina government in Bangladesh was not spontaneous. This means t
This time on the occasion of Republic Day, Indonesian President Prabowo Subianto will be the stat
Director Karan Johar, who has been targeted by actress Kangana Ranaut for giving immense work to
The Income Tax Department raided Shilpa Shetty's restaurant in Mumbai on Thursday. According to n
Russia-Ukraine War: India said – urban areas are becoming easy targets in Russia-Ukraine war
The Russo-Ukraine War has entered its 126th day. Meanwhile, victims of an attack on a shopping ma
Kolkata. Home Minister Amit Shah is on a tour of West Bengal today. Amidst the Corona epidemic, a
When Kangana Ranaut challenged the hijab, Shabana Azmi asked the question, Javed Akhtar also said
The issue of wearing hijab for college girls in Karnataka has sparked debate in politics as well
Exclusive: CNG shortage in Gurugram, demand of 4 lakh kg every day, supply only 2.5 lakh kg
At present, the CNG crisis in Millennium City does not seem to be going away. The demand and supp